Highlights

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COMPANIES

• IDBI, MSEB to seek MERC’s approval for tariff fixation
• BPL Mobile ups airtime charges
• Larsen & Toubro rejigs ECC unit
• Reliance Info recasts top deck
• Dishnet declares rate war on VSNL
• DoT clears SMS for limited mobility — Multiple registration comes with a rider
• HCL Tech bags $160-m BT deal
• Vadilal scotches takeover rumours — Scouting for partners in processed foods arm
• Clariant to make open offer for 20 per cent Colour Chem stake
• Kennametal mulls BPO outsourcing
• SC rules against I-T Dept claims, says Tata Chem
• JCB plans to make Indian arm export hub for South Asia
• Uranium Corpn to set up mining unit in Algona dist
• V9 Broadband in pact with US co
• BPCL ties up with HM for co-branded lubricants

INTERNATIONAL BUSINESS

• GM plans to add Saab SUV to boost sales
• IMF, WB officials to try to insulate global economy

GENERAL

• Quota phase-out unlikely to help apparel exports
• Central nod for Taj Int’l airport
• State PSUs to be allowed to mine coal in other states
• Strong competition law may help attain 6 per cent growth

BANKING AND FINANCE

• Dollar weakness has not hit exports, says Rakesh Mohan
• Infrastructure sector to be growth driver, says Crisil
• Fitch gives top rating to HDFC Bank deposits
• Banks allowed to issue guarantees favouring other lending bodies
• No evidence to relate arbitrage to higher forex
• LIC Housing Fin loan disbursement at Rs 2,941 crore
• Union Bank plans foray into West Asia, China
• UCO Bank posts 20 pc growth
• IRDA seeks details on investments by insurers

CAPITAL MARKET

• MFs can invest up to 10 pc in foreign equities
• Chola to launch dividend yield fund
• Fund interest boosts volumes in Britannia
• ITC gains on talk of price hikes
• Himachal Futuristic gains over 50 per cent
• Dow Jones up 23 points at close
• Re dips; gilts up